Discounted Cash Flow (DCF) Analysis Levered
Signet Jewelers Limited (SIG)
$63.49
-1.80 (-2.76%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 6,247.10 | 6,137.10 | 5,226.90 | 7,826 | 7,842.10 | 8,495.72 | 9,203.83 | 9,970.95 | 10,802.01 | 11,702.34 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 697.70 | 555.70 | 1,372.30 | 1,257.30 | 797.90 | 1,235.58 | 1,338.57 | 1,450.13 | 1,571 | 1,701.94 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -133.50 | -136.30 | -83 | -129.60 | -138.90 | -159.26 | -172.54 | -186.92 | -202.50 | -219.37 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 564.20 | 419.40 | 1,289.30 | 1,127.70 | 659 | 1,076.32 | 1,166.03 | 1,263.22 | 1,368.50 | 1,482.57 |
Weighted Average Cost Of Capital
| Share price | $ 63.49 |
|---|---|
| Beta | 2.142 |
| Diluted Shares Outstanding | 56.70 |
| Cost of Debt | |
| Tax Rate | 24.16 |
| After-tax Cost of Debt | 0.77% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.748 |
| Total Debt | 1,330.30 |
| Total Equity | 3,599.88 |
| Total Capital | 4,930.18 |
| Debt Weighting | 26.98 |
| Equity Weighting | 73.02 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 6,247.10 | 6,137.10 | 5,226.90 | 7,826 | 7,842.10 | 8,495.72 | 9,203.83 | 9,970.95 | 10,802.01 | 11,702.34 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 697.70 | 555.70 | 1,372.30 | 1,257.30 | 797.90 | 1,235.58 | 1,338.57 | 1,450.13 | 1,571 | 1,701.94 |
| Capital Expenditure | -133.50 | -136.30 | -83 | -129.60 | -138.90 | -159.26 | -172.54 | -186.92 | -202.50 | -219.37 |
| Free Cash Flow | 564.20 | 419.40 | 1,289.30 | 1,127.70 | 659 | 1,076.32 | 1,166.03 | 1,263.22 | 1,368.50 | 1,482.57 |
| WACC | ||||||||||
| PV LFCF | 803.17 | 789.22 | 775.51 | 762.03 | 748.80 | |||||
| SUM PV LFCF | 4,714.61 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.25 |
| Free cash flow (t + 1) | 1,512.22 |
| Terminal Value | 18,329.91 |
| Present Value of Terminal Value | 11,252.98 |
Intrinsic Value
| Enterprise Value | 15,967.59 |
|---|---|
| Net Debt | 163.50 |
| Equity Value | 15,804.09 |
| Shares Outstanding | 56.70 |
| Equity Value Per Share | 278.73 |